Stock market October 17: Don't buy stocks at high prices

(NLDO) - VCBS Securities Company recommends that investors avoid buying stocks at high prices to limit the risk of short-term adjustments.

At the end of the session on October 16, the VN-Index stopped at 1,766 points, up nearly 9 points (equivalent to 0.51%).

The VN-Index opened on October 17 with a slight increase, surpassing the 1,760-point mark and remaining in a tug-of-war situation around this level throughout the morning session. Blue-chip stocks were clearly differentiated, having a mixed impact on the overall index. Specifically, banking stocks such as CTG, STB and VHM adjusted down, putting pressure on the index. On the other hand, purple stood out at MSN, GEE and green at VJC andFPT, contributing to market balance.

In the afternoon session, VN-Index continued to fluctuate within a narrow range of about 9 points around the 1,760 mark. Retail and Real Estate stocks became bright spots with purple at MSN, DXG, PNJ and DIG, helping the market lean towards green with 180 stocks increasing compared to 126 stocks decreasing.

In particular, the increase of VIC in the last minutes of the session pushed VN-Index to close near the session's highest level. Foreign investors reversed their strong net buying in the afternoon session, reaching a net value of VND527.2 billion, focusing on codes NLG, DXG and GEX.

At the end of the session, VN-Index stopped at 1,766 points, up nearly 9 points (equivalent to 0.51%).

Although the VN-Index recorded a balance signal around the 1,750-1,770 point range, according to VCBS Securities Company, investors should prioritize short-term investment strategies, focusing on stocks with solid price bases, convincing long-term support zones and positive cash flow signals. Notable industry groups include public investment and retail. At the same time, investors should avoid chasing stocks at high prices to limit the risk of short-term corrections.

Dragon Capital Securities Company (VDSC) commented that the market continues to be supported at the 1,750 point level. Liquidity remains stable compared to the previous session, reflecting the state of exploration between stock supply and demand.

Support movements at the 1,750-point zone are helping the market rebalance after recent ups and downs, opening up opportunities for gains in the coming time, with the goal of challenging the 1,800-point resistance zone.

With the signal of the re-participation of demand, some other securities companies forecast that VN-Index will head towards the resistance zone of 1,790-1,800 points. However, investors need to be cautious with the risk of correction due to profit-taking pressure at high price zones. The appropriate strategy in this period is to disburse in part at fluctuations, prioritizing stocks with good business foundations.

Source: https://nld.com.vn/chung-khoan-ngay-17-10-khong-nen-mua-duoi-co-phieu-o-vung-gia-cao-196251016180038192.htm